Continuous decline in stock indices for four days
Staff Correspondent
The Dhaka Stock Exchange (DSE) witnessed its indices fall for the fourth consecutive day on Wednesday despite an increase in transactions.
At the close of trading, the DSEX, the prime index of the DSE, dropped by 8 points.
The blue-chip index DS30 fell by 6 points, while the Shariah-based DSES index declined by 1 point.
Out of the traded companies, share prices increased for 145 companies, decreased for 182 and remained unchanged for 69.
Rise in Turnover
Despite the drop in indices, turnover increased by Tk 55 crore compared to the previous day. A total of 1.43 lakh shares changed hands 1.69 crore times, resulting in a total turnover of Tk 406 crore.
Performance by Categories
In the A-category, comprising 217 companies, the prices of 54 shares rose, 127 fell, and 36 remained unchanged.
In the B-category, out of 89 companies, 41 witnessed price increases, 35 recorded declines, and 13 remained stable.
In the Z-category, involving 85 companies, 47 saw price hikes, 19 recorded falls, and 19 remained unchanged.
Dividend Declarations
Two DSE-listed companies announced dividend distributions to investors. GPH Ispat and JMI Syringes & Medical Devices declared 10% dividends each for their investments in 2024.
Downgrades to Z Category
Chattogram Stock Exchange Also Affected
The bearish trend was mirrored at the Chattogram Stock Exchange (CSE), where the CSCX index fell by 5 points. Of the 193 companies traded, 85 recorded price increases, 81 saw declines, and 27 remained unchanged.
Market Sentiment
The persistent decline in indices has raised concerns among investors, despite the uptick in transaction volumes.
Market analysts suggest that the downgrades and cautionary measures imposed by the exchanges may have contributed to the cautious sentiment.
Investors are urged to monitor developments closely and exercise prudence in investment decisions.
The DSE has downgraded three companies—Sonali Life Insurance, Union Bank, and Sea Pearl Beach Resort—from the A-category to the Z-category.
Additionally, brokerage houses and merchant banks have been directed not to extend margin loan facilities for purchasing shares of these Z-category companies.
